CE Software, Inc. - Press Releases & Announcements

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FOR RELEASE 8:00 AM EST Friday, February 15, 2002
Company Contact:
John S. Kirk
President
CE Software, Inc.
john.kirk@cesoft.com
(515) 221-1801

 

CE Software, Inc. Reports First-Quarter Results

West Des Moines, Iowa, February 15, 2002 -- CE SOFTWARE, INC. (OTCBB Symbol: CESW) today announced results for its first quarter ended December 31, 2001.

CE Software reports a net loss of $162,000, or $0.11 per share, for its first quarter of fiscal 2002 on revenues of $348,000. The preceding quarter saw a net loss of $468,000, or $0.32 per share, on operating revenues of $318,000. For the same quarter a year ago, the company reported a net loss of $186,000, or $0.16 per share, on operating revenues of $494,000.

"The company has shown improvement during this quarter from the previous quarter primarily as a result of the expense reductions that we implemented during the quarter," said John S. Kirk, president of CE Software, Inc. "QuicKeys X, our automation utility for Apple's Mac OS X, was welcomed by our customers and the press during the quarter. We are also expecting a favorable response from our just released new version of QuickMail, our all-in-one office e-mail solution.

"The refinancing agreement on our building was executed on January 31, 2002. This will provide working capital to continue development on current projects and bring them to market."

Since 1981, CE Software, Inc. has developed automation utilities and e-mail software that save time and effort for millions of Microsoft Windows and Macintosh users. For more information: (515) 221-1801 or www.cesoft.com

This release contains forward-looking information that is subject to certain risks, trends and uncertainties and actual developments may differ materially from those projected. For a discussion of important factors that could affect the Company's results, the reader is encouraged to refer to the Company's annual report on Form 10-KSB and quarterly Form 10-QSB.

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(c) Copyright 2002 CE Software, Inc. All rights reserved. QuicKeys and QuickConference are registered trademarks of CE Software, Inc. QuickMail, InOut Tracker, CE Software, CE and the CE Software logo are trademarks of CE Software, Inc. All other brand or product names are trademarks of their respective owners.

 

     

Three Months Ended

     

December 31

     

2001

 

2000

           
Net revenues

$ 348

 

$ 494

Cost of revenues

47

 

84

    Gross profit

301

 

410

           
Sales and marketing

128

 

217

General and administrative

185

 

225

Research and development

154

 

159

    Operating expenses

467

 

601

    Operating loss

(166)

 

(191)

           
Other income (expense):      
  Loss on sale of investments, net

0

 

(6)

  Miscellaneous income

6

 

4

  Interest income

0

 

11

  Interest expense

(2)

 

(4)

    Subtotal

4

 

5

    Loss before income taxes

(162)

 

(186)

           
  Income tax benefit

0

 

0

    Net loss

(162)

 

(186)

           
Basic (loss) per share

(0.11)

 

(0.16)

           
Average common shares      
outstanding

1,455

 

1,155

 

 

 

 

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